San Miguel Corp.-backed Bank of Commerce will appeal a Supreme Court decision over disputed funds released by fallen preneed giant, College Assurance Plan (CAP), to its planholders in 2013. The high court reversed a Court of Appeals ruling that required the retrieval of about P91 million previously released by CAP to its planholders. "The bank will file a motion for reconsideration of the Supreme Court's decision," Bank of Commerce, a former trustee of CAP, said in a stock exchange filing on Friday. The lender did not say when it received the Supreme Court decision, which was promulgated on Sept. 15, 2021. Held in escrow Meanwhile, Bank of Commerce said there would be no impac...
Keep on reading: Bank of Commerce to appeal SC ruling on disputed CAP funds
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Keep on reading: Bank of Commerce to appeal SC ruling on disputed CAP funds
from INQUIRER.net https://ift.tt/J3zBuga
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